XAI Octagon Floating Rate & Alternative Income Term Trust Reaches $500 Million Total Managed Assets Milestone
21 9월 2023 - 4:00AM
Business Wire
XA Investments (“XAI”), a Chicago-based alternative asset
manager, is pleased to announce that the XAI Octagon Floating Rate
& Alternative Income Term Trust (NYSE: XFLT, the “Trust”) has
surpassed $500 million in total managed assets. The Trust launched
in September 2017 with $82 million in common assets and has
executed several accretive follow-on equity offerings in addition
to an “at-the-market” offering program, fueling unparalleled asset
growth compared to broader listed closed-end funds.
XFLT provides investors access to income-producing securities
including senior loans, collateralized loan obligation (“CLO”) debt
and CLO equity. The Trust’s investment objective is to seek
attractive total return with an emphasis on income generation
across multiple stages of the credit cycle. Kimberly Flynn,
Managing Director at XAI noted, “We believe the Trust is uniquely
positioned in the listed closed-end fund marketplace with its
strategic investment mix of income-producing securities including
loans and CLO investments. The Trust’s asset mix is designed to
seek enhanced risk-adjusted returns over time.”
Ted Brombach, Co-CEO of XAI also noted, “We are pleased with the
strong asset growth we’ve observed in this Trust and its reception
among institutional investors, financial advisors and other
income-oriented investors. Octagon Credit Investors is a recognized
leader in the CLO marketplace and as such the Trust has developed a
loyal investor base. Our investor relations and marketing team has
prioritized investor education efforts on the CLO market, which we
believe has supported the Trust’s growth over time.”
Gretchen Lam, Senior Portfolio Manager at Octagon, commented,
“We are pleased to reach this milestone, which we believe
underscores the resiliency of the loan and CLO markets, and the
strength of the Trust’s investment strategy. We thank the
shareholders for their confidence, and we are excited for the next
phase of the Trust’s growth. We look forward to further serving a
broader investor base with additional institutional strategies that
leverage Octagon’s core competencies.”
There can be no assurance that the Trust will achieve its
investment objective. The Trust pays regular monthly distributions
based on GAAP earnings. The Trust’s common shares are traded on the
New York Stock Exchange under the symbol “XFLT,” and the Trust’s
6.50% Series 2026 Term Preferred Shares are traded on the New York
Stock Exchange under the symbol “XFLTPRA.”
About XA Investments
XA Investments LLC (“XAI”) serves as the Trust’s investment
adviser. XAI is a Chicago-based firm founded by XMS Capital
Partners in April, 2016. In addition to investment advisory
services, the firm also provides investment fund structuring and
consulting services focused on registered closed-end funds to meet
institutional client needs. XAI offers custom product build and
consulting services, including development and market research,
sales, marketing, fund management and administration. XAI believes
that the investing public can benefit from new vehicles to access a
broad range of alternative investment strategies and managers. XAI
provides individual investors with access to institutional-caliber
alternative managers. For more information, please visit
www.xainvestments.com.
About XMS Capital Partners
XMS Capital Partners, LLC, established in 2006, is a global,
independent, financial services firm providing M&A, corporate
advisory and asset management services to clients. It has offices
in Chicago, Boston and London. For more information, please visit
www.xmscapital.com.
About Octagon Credit Investors
Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s
investment sub-adviser. Octagon is a 25+ year old, $34.5B
below-investment grade corporate credit investment adviser focused
on leveraged loan, high yield bond and structured credit (CLO debt
and equity) investments. Through fundamental credit analysis and
active portfolio management, Octagon’s investment team identifies
attractive relative value opportunities across below-investment
grade asset classes, sectors and issuers. Octagon’s investment
philosophy and methodology encourage and rely upon dynamic internal
communication to manage portfolio risk. Over its history, the firm
has applied a disciplined, repeatable and scalable approach in its
effort to generate attractive risk-adjusted returns for its
investors. For more information, please visit
www.octagoncredit.com.
XAI does not provide tax advice; please consult a professional
tax advisor regarding your specific tax situation. Income may be
subject to state and local taxes, as well as the federal
alternative minimum tax.
Investors should consider the investment objectives and
policies, risk considerations, charges and expenses of the Trust
carefully before investing. For more information on the Trust,
please visit the Trust’s webpage at
www.xainvestments.com.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
NOT FDIC INSURED
NO BANK GUARANTEE
MAY LOSE VALUE
Foreside Fund Services, LLC - Distributor
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230920505691/en/
Kimberly Flynn, Managing Director XA Investments LLC Phone:
888-903-3358 Email: KFlynn@XAInvestments.com
www.xainvestments.com
XAI Octagon Floating Rat... (NYSE:XFLT)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
XAI Octagon Floating Rat... (NYSE:XFLT)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024